| Year Ended December 31, | ||||||||||||||||
| 2006 | 2005 | 2004 | ||||||||||||||
Income before income taxes from continuing operations |
$ | 1,427,902 | $ | 857,155 | $ | 333,628 | ||||||||||
Less earnings from affiliates, net of dividends |
(18,111 | ) | (2,600 | ) | (2,057 | ) | ||||||||||
Add amortization of capitalized interest |
1,855 | 1,267 | 1,017 | |||||||||||||
Add fixed charges as adjusted (from below) |
49,731 | 47,786 | 51,329 | |||||||||||||
Earnings |
(1 | ) | $ | 1,461,377 | $ | 903,608 | $ | 383,917 | ||||||||
Fixed charges: |
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Interest expense: |
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Interest on indebtedness |
$ | 36,543 | $ | 19,086 | $ | 23,055 | ||||||||||
Capitalized |
9,495 | 4,173 | 1,887 | |||||||||||||
Amortization of debt related costs (1) |
10,043 | 25,763 | 25,452 | |||||||||||||
Interest portion of rental expense |
3,145 | 2,937 | 2,822 | |||||||||||||
Fixed charges before adjustments |
(2 | ) | 59,226 | 51,959 | 53,216 | |||||||||||
Less capitalized interest |
(9,495 | ) | (4,173 | ) | (1,887 | ) | ||||||||||
Fixed charges as adjusted |
$ | 49,731 | $ | 47,786 | $ | 51,329 | ||||||||||
Ratio (earnings divided by fixed charges
before adjustments) |
(1)/ | (2) | 24.67 | 17.39 | 7.21 | |||||||||||
| (1) | Includes deferred financing, discount and premium amortization. |